Artificial Intelligence Market by Component (Hardware, Software, Services), Technology (Computer Vision, Natural Language Processing, Machine Learning, Context-Aware Computing), End-user (Retail, Manufacturing, Healthcare, Agriculture, Automobile, Human Resources, Security, Fintech, Marketing), and Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa) - Global Insights, Trends and Forecast, 2017 to 2025, 2018 – 2025

Created On: Aug-2018
Report ID: IR142
Format: PDF

The Global Artificial Intelligence Market was valued at US$ 15.2 billion in 2016 and is expected to expand at a CAGR of 33.34% in terms of revenue and reach a mark of US$ 151.8 billion over the forecast period 2017 – 2025.

Artificial Intelligence Market – Insights Artificial intelligence (AI) is also called machine intelligence. Artificial intelligence that is being demonstrated by machines is dissimilar to the natural intelligence that is displayed by animals and humans. In computer science terms artificial intelligence research is elaborated as the study of "intelligent mediators": Device that recognizes its environment and takes appropriate actions that can maximize its success rate. The term "artificial intelligence" is only applied when a machine relates its actions which are associated with humans with other human minds, for instance problem solving, learning and analyzing. The artificial intelligence term was coined in 1956, although AI has become more popular on the present day due to the rapid growth in the data volumes, advancements in computing power & Storage and advanced algorithms.

Figure 1. Global Artificial Intelligence Market, By Geographic Share Source: Insights and Reports Analysis (2017)

 

In the early stages research related to artificial intelligence covered the topics such as symbolic methods and problem solving methods. In the 2nd quarter of 1960s, the US Department of Defense showed interest in artificial intelligence and began training computers to impressionist basic human reasoning. For example, the Defense Advanced Research Projects Agency (DARPA) accomplished street mapping projects in the 1970s, additionally DARPA produced intelligent personal assistants in 2003, that was long before Alexa, Siri, and Cortana were temporary names. The early adoption of these technology and the technological work done on AI by the DARPA paved off by increasing the capabilities acquired by the system such as formal reasoning that we observe in the computers today which includes smart search systems and decision support system that can examine and work according to the human capabilities.

The global artificial intelligence is segment into three categories, namely, component, technology and end-users. On the basis of components the artificial intelligence market has been divided into hardware, software, and services. Based on technology the market has been categorized into computer vision, natural language processing, machine learning and context-aware computing. End-user segment based on artificial intelligence market was segmented into manufacturing, retail, healthcare, agriculture, automobile, human resources, security, fintech and marketing. 

Manufacturing is the largest end-user, followed by healthcare for artificial intelligence

The end user industry has been categorized into manufacturing, retail, healthcare, agriculture, automobile, human resources, security, fintech. Manufacturing end-user industry is anticipated to hold the major chunk of the artificial intelligence market over the forecast period. Growing data volume resulting since the manufacturing sector value chain has engaged to the connection of AI-enabled data analytics that are being used in the manufacturing sector. Moreover, initiatives taken up by the industries for instance Industry 4.0, the connected manufacturing step taken up by the Government of Germany, have flourished the growth of AI-enabled devices in manufacturing.

Regional Insights

The Asia Pacific region artificial intelligence market is anticipated to hold the major chunk of the market, due to the rapid growth in high computing power, information storage capacity, and parallel processing, that has contributed in order to experience the swift growth of artificial intelligence technology in end-user industries such as healthcare and automotive industries.

Multinational players

Major players in the global Biodegradable Packaging market include IBM Corporation, NVIDIA, Google, Inc., Intel, Samsung Electronics, Microsoft Corporation, Xilinx, Amazon Web Services, Oracle Corporation, SAP SE, Facebook, and Salesforce

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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